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Traders Getting in Ahead of Turtle Beach Corp (NASDAQ:HEAR) Earnings Release

Turtle Beach Corp (NASDAQ:HEAR)

Turtle Beach Corp (NASDAQ:HEAR) is scheduled to release its Q4 and full year earnings tomorrow. But traders aren’t waiting and appear to be betting on a repeat of their last quarter of positive news.

Shares of Hear were trading thinly prior to noon EST then the price action exploded. The price shot up from $1.04 to $1.33 in an hour and a half. Currentl shares are up 25% on volumes that are over eight times their daily average. There is word of a ratings upgrade, however that was first reported prior to the market open. A review of trader chat rooms did not find any evidence that the earnings had been improperly disclosed prior to their announced release time tomorrow.

For Q3, Turtle Beach Corp (NASDAQ:HEAR) reported an EPS loss of $0.10 which was $0.06 better than analysts expected. Revenues came in at $38.38 million which beat street estimates by over $1 million.

San Diego, CA-based Turtle Beach Corp (NASDAQ:HEAR) designs audio products for the consumer, commercial and healthcare sectors. Products are sold in 27,000 storefronts globally across 44 countries. The company has more than 370,000 points of distribution. In addition, the company has installed more than 16,000 interactive point-of-sale displays at retailers globally.

Six firm follow Turtle Beach Corp (NASDAQ:HEAR). Three rate the shares as a “Strong Buy” while the other three rate shares of HEAR as a “Hold”. Their consensus price target is $1.45 – just $0.13 from current price levels. Shares are trading above their 50-day simple moving average (+3.38%) and their 200-day simple moving average (+8.88%).

Ticker Symbol HEAR
Last Price a/o 1:43 PM EST  $                      1.30
Average Volume                    265,950
Market Cap (mlns)  $                    50.77
Sales (mlns) $176.30
Shares Outstanding (mlns) 48.82
Share Float (mlns) 22.2
Shortable Yes
Optionable No
Inside Ownership 10.50%
Short Float 3.14%
Short Interest Ratio 2.62
Quarterly Return -25.18%
YTD Return -20.61%
Year Return -7.14%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.

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James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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